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Emergence of a Putin-sponsored Oil and Gas Aristocracy: Clans at War for Property

Emergence of a Putin-sponsored Oil and Gas Aristocracy: Clans at War for Property

Putin is imputed to launch active nationalization of the oil and gas sector. In reality we see a reverse process – assets are being privatized or prepared for privatization.

Thus, the task to nationalize the sector seems to be not on the agenda any longer. Nationalization was an interim transit phase in the process of changing owners in the oil and gas industry.

At first, assets were taken by the state and now they are to be transferred to other private owners. However, this process is not very fast.

Nowadays state companies receive a lot of privileges and licenses, which is like taking assets from one state pocket and putting them into another. However, there are private shareholders practically in all state companies and their stakes may rise. This is another way to privatize the industry.

In a new report of the National Energy Security Fund you will find detailed answers to the following questions:

  • Main participants of the property redistribution process

    • Changes in the layout of forces of major administrative and political groups
  • Conflicts between Gazprom and Rosneft over assets

    • How state companies are “swelling” on the eve of a new stage of privatization
  • Surfacing of “oil and gas Atlantis”

    • Unexpected exposure of shadow empires
    • Motives and consequences of this process
    • Sources of money to buy out state property
  • Creation of family clans in the oil and gas sector

    • Prototype of a new aristocracy inheriting assets
  • Surfacing of “oil and gas Atlantis”

    • Struggle for Gazprom Neft
    • Transfer of assets out of Gazprom
  • The future of private oil and gas companies

    • Strategy of their survival
    • Secrets of Surgutneftegaz
    • LUKOIL’s path
    • Possible fate of the Tatar and Bashkir oil and petrochemical sector

     

    The contents of the report:

    Introduction.New Aristocracy and Its Resource Base 3
    Chapter 1. Gazprom and Rosneft: From Nationalization to Gradual Privatization 8
    1.1. Playing Shares 8
    1.2.Readying for Privatization of Assets 10
    1.3. Temporary Beneficiaries from Sales of Gazprom’s Property 12
    1.4. Rosneft on Its Way to New Selling of Shares 15
    Chapter 2. Bank Rossiya Group’s Assets Becoming Known to the Public: Preparation for New Acquisitions 18
    Chapter 3. Oil and Gas Families 29
    Chapter 4. Possible Victims: the Fate of Independent Oil Firms 32
    4.1. LUKOIL: Friendship with Non-residents 32
    4.2.TNK-BP: Shield From the Past 36
    4.3. Russneft: Things Haven’t Got Forward an Inch 41
    4.4. Bashkiria Oil Assets: New Transit Proprietor 42
    Chapter 5. Optimal Scenario of Developments For the Current Elite. 49
    Date of issue October 27, 2009

If you are interested to obtain please contact » Elena Kim

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Analytical series “The Fuel and Energy Complex of Russia”:

New OPEC+ Deal and Future of Oil Business in Russia
Gazprom on the background of external and internal challenges
Regulation of Oil and Gas Sector in 2019 and Prospects for 2020
Fiscal Policy on Oil and Gas Sector: Revised as Often as Wikipedia
The tax system in the oil and gas sector continues to undergo radical changes. The beginning of 2019 saw the introduction of a new tax regime: additional income tax. That experiment was supposed to start migration of the oil industry to an innovative principle of taxation: on profit, not revenue. It seemed that a new main road was found. In the same year, however, the Finance Ministry launched an overt offensive against AIT. The fear of loss of government revenue now is more powerful than the threat of causing oil production to collapse in the medium term because of a tax system that does not stimulate investment. The Finance Ministry would strongly prefer to speed up the tax manoeuvre completion that earns the state budget additional money. Oil and gas companies respond to this with individual lobbying, attempting to wangle special treatment for their projects.
Ukrainian Gas Hub: Climax at Hand
The “zero hour” comes in less than a month: the contracts for gas transit through Ukraine and for supplying Russian gas to the country terminate at 10 am on 1 January. Meanwhile, Gazprom and Naftogaz are very far from looking for a mutually acceptable solution. The entire European gas business is watching intently the negotiations between Russia and Ukraine. Everyone is waiting for a new “gas war”: the January 2009 events proved to be a serious test both to European consumers and to Gazprom as a supplier. Is there still a chance of agreement? If there is not, will Gazprom cope with its obligations to deliver gas to Europe? Is Russia bluffing as it assures that the new infrastructure and gas in underground storage facilities will enable it to get by without Ukrainian transit even as soon as this winter? What will happen to Ukraine itself at the beginning of 2020?

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